UAE Shares Begin New Week Downbeat; Dubai Investments Edges Up as Unit Plans IPO

07:45 AM EDT, 10/19/2026 (MT Newswires) -- Shares in the United Arab Emirates closed Monday's trading session in negative territory as geopolitical tensions and volatile energy prices continued to weigh on market sentiment. At the close of trading, the FTSE ADX General Index lost 0.256%, while the DFM General Index shed 0.271%. Iranian Foreign Minister Abbas Araghchi stated that Iran's seven-day proposal to the US to reopen the Strait of Hormuz remains on the table, subject to conditions that include the release of the US naval blockade on Iranian ports, removal of sanctions, and ending regional war on all fronts. Meanwhile, US President Donald Trump said that his waiver of recent sanctions on Russia was to keep the country at the bargaining table. Trump also stated in a social media post that "great progress" has been made in ongoing peace negotiations between Russia and Ukraine. "Brent crude opened lower this morning, trading around USD 108/bbl after reaching around USD 109/bbl on Friday. The decline followed President Trump's waiver of key sanctions and tariffs on Russia, potentially allowing higher fuel exports. Still, supply risks remained elevated, as Ukraine struck Russian energy infrastructure on Sunday and attacks on vessels near Hormuz continued to threaten Gulf crude flows," Danske Bank commented. Back home, the UAE Central Bank wrapped up its participation in the International Monetary Fund and the World Bank Group's annual meetings in Thailand, which included strategic bilateral talks to advance artificial intelligence and digital currency projects with the Bank of China, Bank of Korea and the Monetary Authority of Singapore. Over to corporates, United Fidelity Insurance (ADX:FIDELITYUNITED) launched the second phase of its capital increase comprising an issue of up to 30 million new shares. The Abu Dhabi-listed insurance company's stocks were flat at the close of trading. Dubai Investments (DFM:DIC) traded flat as its unit DIP Holding announced plans to pursue a listing on the Dubai Bourse via an initial public offering. The investment company will offer 1,735,243,300 shares, representing a 20% stake in the subsidiary, through the IPO.